Piedmont Trusts & Estates assists U.S. clients who have noncitizen spouses in related tax aspects of estate estate planning, including the creation of "qualified domestic trusts".
Piedmont Trusts & Estates works with nonresident/noncitizen parents of U.S. citizen or domicile children in analyzing U.S. income tax, and U.S. estate tax, gift tax and generation skipping transfer tax aspects of various gift structures, along with related U.S. tax reporting. In advising these non-citizens, it is critical to understand that a variety of tax saving estate planning possibilities may be available. But also, understanding the rules of "domicile", and how this concept differs from the U.S. income tax corollary of "residence", is imperative in order to avoid the non citizen becoming blind sided by an unexpected - and often avoidable - U.S. estate tax obligation. The following two publications, each by Piedmont Trusts & Estates attorney Michael D. Erickson, highlight some of these issues.
“Estate Planning for Noncitizens.” Financial Advisor, (October 1, 2007),
http://www.fa-mag.com/component/content/article/1750.html?issue=85&magazineID=1&Itemid=73
"Where’s Home? The Elusive Concept of “Domicile” in U.S. Estate Planning," ABA Business Law eNewsletter, (December 21, 2009)
http://apps.americanbar.org/buslaw/committees/CL690000pub/newsletter/200912/erickson.pdf
Piedmont Trusts & Estates works with nonresident/noncitizen parents of U.S. citizen or domicile children in analyzing U.S. income tax, and U.S. estate tax, gift tax and generation skipping transfer tax aspects of various gift structures, along with related U.S. tax reporting. In advising these non-citizens, it is critical to understand that a variety of tax saving estate planning possibilities may be available. But also, understanding the rules of "domicile", and how this concept differs from the U.S. income tax corollary of "residence", is imperative in order to avoid the non citizen becoming blind sided by an unexpected - and often avoidable - U.S. estate tax obligation. The following two publications, each by Piedmont Trusts & Estates attorney Michael D. Erickson, highlight some of these issues.
“Estate Planning for Noncitizens.” Financial Advisor, (October 1, 2007),
http://www.fa-mag.com/component/content/article/1750.html?issue=85&magazineID=1&Itemid=73
"Where’s Home? The Elusive Concept of “Domicile” in U.S. Estate Planning," ABA Business Law eNewsletter, (December 21, 2009)
http://apps.americanbar.org/buslaw/committees/CL690000pub/newsletter/200912/erickson.pdf